Ensuring Real Estate Commissions Are Transparent
Buyers and sellers deserve and need dedicated, individual agent representation–and those agents should be fairly compensated for their expertise and the value they provide.
Consumers should be educated about the services real estate agents provide, and be well-informed of agent fees – including who pays for those services and their right to negotiate those fees.
Agents should be fairly compensated for the services they provide to consumers.
Zillow has been successfully advocating for new laws across the U.S. that require agents to provide written disclosures related to agent compensation and who is responsible for paying it, including written buyer representation agreements outlining the buyer’s rights and obligations with respect to those fees.
If the seller or seller’s agent offers to compensate a buyer’s agent, the proposed amount should be displayed on all consumer-facing listings (not just in the MLS for licensed agents to see). As early as possible in the transaction process, we believe real estate agents should inform buyers and sellers of their right to negotiate agent fees.
All real estate brokerage representation agreements should clearly state that all agent compensation is negotiable. Before submitting an offer to purchase a property to a seller or seller’s agent, all buyers should sign a representation agreement with their agent that specifies the amount of the buyer’s agent fees and who is responsible for paying those fees if the buyer’s offer is accepted.
In the event that sellers are not able to offer compensation to the buyers’ agent, Zillow is advocating to normalize financing buyers’ agent fees as part of the mortgage process to ensure that paying for agent services isn’t a barrier for potential buyers.
Agents should be fairly compensated for the services they provide to consumers.
Zillow has been successfully advocating for new laws across the U.S. that require agents to provide written disclosures related to agent compensation and who is responsible for paying it, including written buyer representation agreements outlining the buyer’s rights and obligations with respect to those fees.
If the seller or seller’s agent offers to compensate a buyer’s agent, the proposed amount should be displayed on all consumer-facing listings (not just in the MLS for licensed agents to see). As early as possible in the transaction process, we believe real estate agents should inform buyers and sellers of their right to negotiate agent fees.
All real estate brokerage representation agreements should clearly state that all agent compensation is negotiable. Before submitting an offer to purchase a property to a seller or seller’s agent, all buyers should sign a representation agreement with their agent that specifies the amount of the buyer’s agent fees and who is responsible for paying those fees if the buyer’s offer is accepted.
In the event that sellers are not able to offer compensation to the buyers’ agent, Zillow is advocating to normalize financing buyers’ agent fees as part of the mortgage process to ensure that paying for agent services isn’t a barrier for potential buyers.
